Key takeaways from YUMC 2023 Investor Day China Property Sector: NBS Aug data in-line, expect better recovery in SepOct but sustainability is uncertain China Internet: August online retail sales recap Global SPE 2Q23 Wrap: China demand remains resilient; Awaiting upcycle after 2023 slowdown Meaningful improvement provides the foundation for future development The Company Signed a Capital Injection Agreement with FIIF to Accelerate the Development of Die-Casting Business China Taking Power Market Liberalisation Further by Introducing the First Unified Framework for the Design of Spot Power Markets China TMT： Maintain buy XIAOMI’30-31s, XIAOMI 0’27(CB), MEITUA 0’27(CB), initiate buy on WB 3 3／8’30 Fixed Income Daily Market Update Fixed Income Daily Market Update